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Greater Bay Area diversity will drive property markets across Hong Kong, Shenzhen and Guangzhou

Hong Kong might have the world’s highest home prices, but it has become an unsurprising headline. But it was Shenzhen, not Hong Kong, that raised the most eyebrows, when the tech hub joined the top five priciest home markets in the world, according to CBRE’s Global Living Report in April.This result was significant. Firstly, it reinforced the global credentials of Shenzhen. And secondly, it told us that an internationally high price tag has far more implications for individuals and businesses… Source link

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Property 

Housing policy easing, falling yuan to attract young Hongkongers to ‘Greater Bay Area’ cities of Zhuhai, Zhongshan and Guangzhou

More young Hongkongers looking to get on to the property ladder are expected to seek homes in the “Greater Bay Area” cities of Zhuhai, Zhongshan and Guangzhou, as a result of policy easing and a depreciating yuan, property agents have said.The agents said they have witnessed a twofold year-on-year increase in home sales in these cities, while enquiries from Hong Kong buyers looking to buy apartments in 70-year-lease projects have also gone up.“We are seeing more inquires from young Hongkongers… Source link

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China 

Greater Bay Area entrepreneurs fear fallout on their businesses after US tech sanctions hit Huawei’s operations

It’s business as usual for Zhou Kang.The Shenzhen-based entrepreneur’s company, Czur Tech, is a niche maker of portable digital scanners that requires components from more than 200 suppliers. He sources most of them locally, except for a few key chips and sensor, which he imports from Japan. And so far this year his company has exported more than 10,000 scanners to the US priced between US$299 and US$3,000 that can convert a 300-page book into a digital format within minutes.Although the… Source link

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Hong Kong to become a hub for catastrophe bonds as Greater Bay Area takes shape

Hong Kong could emerge as a trading hub in products that help insurance companies in the “Greater Bay Area” offset risk related to property damage arising from flooding and other natural disasters, according to experts.Catastrophe bonds are structured credit instruments often used by US and Japanese insurers, as well as reinsurers, to raise capital by offloading the insured risks from natural disasters, be it wildfires in California or earthquakes in Nagano.Tow Lu Lim, a partner at law firm… Source link

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Squeezed by trade war, Chinese co-working firm Atlas pivots to ‘Greater Bay Area’, offers rent-free periods to Hong Kong businesses

Guangzhou-based co-working space provider Atlas wants Hong Kong companies to set up shop in a three-storey facility it is opening in Shenzhen’s Futian business district in July – and is offering a three-month rent-free periods as well as discounts to sweeten the deal.Founded by Ron Chen Sze Long, the son of Chen Zhuo Lin, chairman of mainland Chinese property company Agile Property, Atlas is looking to offset a drop in leasing demand amid an escalating trade war between the United States and… Source link

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HSBC sets up US$880 million technology fund to find the next Tencent, DJI or Huawei in the Greater Bay Area

As companies are looking to cash in on the potential of uniting the infrastructure and development of the Greater Bay Area, HSBC said on Tuesday that it is creating a US$880 million technology fund to provide financing to early stage companies in the region.The GBA+ Technology Fund will focus on lending to high-growth companies in mainland China, Macau and Hong Kong in a variety of sectors, including e-commerce, financial technology (fintech), robotics, biotech and health care technology, HSBC… Source link

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China 

Greater Bay Area initiative drives foreign investment in Guangzhou and Shenzhen real estate

Foreign investment in Guangzhou and Shenzhen real estate, two core cities in Beijing’s Greater Bay Area scheme, hit 7.5 billion yuan (US$1.09 billion) in the first quarter of the year, up by nearly half from the 5.2 billion yuan seen in all of 2018. According to the latest report from property consultancy Cushman & Wakefield, foreign investment in the two cities accounted for 33 per cent of the 22.7 billion yuan invested in the two cities in the first quarter. “The GBA initiative has really… Source link

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Greater Bay Area a beneficiary as US-China tensions heat up, HSBC adviser says

A trade war between the world’s two largest economies could speed the development of the Greater Bay Area as China focuses more on domestic consumption, an adviser to HSBC Asia-Pacific said Thursday.Speaking on a panel at HSBC’s Greater Bay Area Exchange Forum, George Leung Siu-kay, an adviser to the deputy chairman and chief executive of the bank’s Asia-Pacific business, said that domestic consumption in China will be an important catalyst in the future – one that companies in Hong Kong, Macau… Source link

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Trump’s Huawei ban cools property deals in Shenzhen’s Bantian area popular with telecom firm’s employees

Chen Xiao is under severe pressure. The property agent in Shenzhen, home to telecoms giant Huawei Technologies and other Chinese tech stars like ZTE and Tencent Holdings, has not closed a single deal this month.“May used to be my best month, as sometimes I would close up to six deals because Huawei pays bonuses around this time,” said the 30-year-old broker with Centaline Property Agency, who focuses exclusively on Bantian in Longgang district where Huawei is based.But with the escalating US… Source link

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South China Morning Post teams up with Statista on a quest to find the fastest-growing companies in the Greater Bay Area

South China Morning Post will team up with Statista, a German online statistics portal, to compile a list of the fastest-growing companies in the Greater Bay Area (GBA), part of the programme by one of Asia’s oldest English-language newspapers to shed light on the future economic powerhouse in southern China.The ranking will be based on a survey of companies located among the 11 cities that make up the Greater Bay Area, with the minimum 2015 revenue of 1 million yuan and 2018 turnover of not… Source link

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